6 Jul 2020 09:34
6 July 2020
Gresham House plc
("Gresham House" or the "Company")
Issue of Shares to Employee Benefit Trust
Gresham House, (AIM: GHE) the specialist alternative asset manager, was notified on 3 July 2020 that the Company's Employee Benefit Trust ("EBT") intends to subscribe for 750,000 new ordinary shares in the Company at their par value of 25p each and at an aggregate cost to the EBT of £187,500. ("New Ordinary Shares"). The Company has agreed to lend £187,500 to the EBT to fund its subscription for the New Ordinary Shares. The New Ordinary Shares to be held in the EBT are intended to be used to satisfy, in part, previously announced awards arising from the Company's employee incentive schemes.
Accordingly, on 6 July 2020, the Company allotted the New Ordinary Shares to the EBT and such shares will rank pari passu in all respects with the existing ordinary shares of the Company. It is anticipated that the New Ordinary Shares will be admitted to trading on AIM on or around 9 July 2020 ("Admission").
Following Admission, the Company's issued share capital will comprise 30,762,401 ordinary shares, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. The Company does not hold any shares in treasury.
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For more information contact: Gresham House plc Kevin Acton, Chief Financial Officer
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+44 (0)20 3837 6271
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Houston PR Kate Hoare Alexander Clelland Anushka Mathew
| gh@houstonpr.co.uk +44 (0)20 3701 7660 |
Canaccord Genuity Limited - Nominated Adviser and Joint Broker Bobbie Hilliam Georgina McCooke
| +44 (0)20 7523 8000 |
Jefferies International Limited - Financial Adviser and Joint Broker Paul Nicholls Max Jones | +44 (0)20 7029 8000 |
About Gresham House
Gresham House plc is an AIM quoted specialist asset manager providing funds, direct investments and tailored investment solutions, including co-investment across a range of highly differentiated alternative investment strategies. Our expertise includes timber, renewable energy, housing and infrastructure, strategic public and private equity (private assets). The group aims to deliver sustainable financial returns and is committed to building long-term partnerships with clients (institutions, family offices, high-net-worth individuals, charities and endowments and private individuals) to help them achieve their financial goals.
Shareholder value creation will be driven by long-term growth in earnings as a result of increasing AUM and returns from invested capital.
www.greshamhouse.com